What Is Corn and How to Qualify for the Corn Airdrop

How to Participate and Earn Kernels on Corn

Corn, an Ethereum Layer 2 network that aims to integrate Bitcoin and enabling users to earn yield, has confirmed a token airdrop. Users can earn Kernels that will represent their share of the CORN airdrop by depositing eligible assets into Silos, completing Galxe quests, and referring others.  

Key Takeaways

• Corn is a Layer 2 network on Ethereum that is working to integrate Bitcoin into the Ethereum ecosystem while enabling users to earn yield. 

• The project successfully secured $6.7 million in a recent funding round led by Polychain Capital with participation from Binance Labs, Framework Ventures, and Polygon co-founder Sandeep Nailwal.

• Users can now participate in Corn’s airdrop campaign to earn Kernels by depositing assets, completing Galxe quests, and referring others.

Corn is a new Ethereum Layer 2 network that is working to integrate Bitcoin into the Ethereum ecosystem and enabling users to earn yield. The project’s vision is to create a cohesive and mutually beneficial environment by implementing a mechanism referred to as “Super Yield Farming” and a network-wide system known as the “Crop Circle” to align the interests of users, applications, and token holders.

In a recent seed round, Corn successfully raised $6.7 million from notable investors. The funding round was led by Polychain Capital and included participation from Binance Labs, Framework Ventures, and Polygon co-founder Sandeep Nailwal.

Corn uses a tokenized version of Bitcoin, known as BTCN, which is backed 1:1 by native Bitcoin that is held across various custodians, smart contracts, and bridging protocols. It is used as Corn’s gas fee token as well as incentives for Bitcoin holders to tap into more decentralized finance (DeFi) opportunities. By relying on multiple custodians, smart contracts, and bridging protocols, Corn aims to provide a flexible and secure structure for users to manage their assets and participate in various DeFi applications. 

In addition to BTCN, Corn will also be introducing a second token, CORN, as the project’s native network emission token. Taking inspiration from Curve Finance’s veTokenomics, users who stake CORN will receive popCORN and benefit from a Corn-native bribe market. This permissionless market will allow protocols to reward CORN stakers with any token in exchange for their vote to direct yield to the protocol or application. This model of yield generation is meant to incentivize both stakers and developers while encouraging the development and use of various DeFi protocols that uphold the values of Bitcoin.

On August 22, 2024, Corn launched their airdrop campaign where users can earn Corn’s native points called Kernels. Each user’s Kernels will represent their share in the upcoming CORN token allocation once Corn Mainnet goes live. At the time of writing, the campaign is in its Early Access phase which includes a retroactive program whereby users who have interacted with selected partner products and protocols will be given access to the Corn network to farm Kernels before anyone else. For every $10 deposited, depositors will earn one Kernel every 21 minutes.  

Qualifying users receive a “Signing Bonus” of Kernels which is determined by their past interactions with a selected list of DeFi protocols on both Bitcoin and Ethereum. These include Arbitrum, Ether.fi, and Pendle. The snapshot for the Kernel airdrop was taken on July 12, 2024, at 4:20 PM EST from Ethereum block number 20292773, covering over 1 million unique addresses. After joining this Early Access phase, users can earn more Kernels by depositing eligible assets, completing Galxe quests, and referring more users.

Now that Corn is running a token airdrop campaign by letting users earn Kernels, it is a good time to get familiar with the platform! Do note that while the Corn team has confirmed a token airdrop, there is no official announcement on when the airdrop will take place. 

Step 1: Join Corn’s Airdrop Campaign

Head over to https://usecorn.com/app and Join the campaign by entering your Ethereum, ENS, or Bitcoin wallet address to check eligibility. 

If your wallet address is not eligible, you will need to join using an invite code. 

If you do not have any friends already on Corn, you can join the official Corn Discord channel, Telegram channel, or browse through the official Corn Twitter / X page to find codes being shared by others.

You can access these channels here.

Corn Discord: https://discord.com/invite/usecorn 

Corn Telegram: https://t.me/usecorn 

Corn X (formerly Twitter): https://x.com/use_corn 

Step 2: Deposit

On the left of your screen, go to Deposit or click Start under “My Total Deposit Value” to be redirected to the main deposit page.

Here, you can choose which Silo to deposit your asset in. In this guide, we will be depositing into the sDAI Silo which will earn us a 1.25x multiplier. 

Input your desired amount of the chosen asset and Deposit it. You will need to approve the transaction in your wallet.

Before confirming the deposit, you can check how much your deposit balance and estimated Kernels per hour (KPH) will be. 

Step 3: Complete Galxe Quests

Back on the Airdrop page, click Start under “My Quests Completed” in order to connect your Galxe account. At the time of writing, Corn was unable to connect to the Galxe account, therefore we will proceed with the campaign via the Galxe page. If you are facing the same issue, simply head over to https://app.galxe.com/quest/CORN/GChehtx83p to participate first. Each point on Galxe is equivalent to one Kernel on the Corn application.

Do note that you must use the same wallet address for both Corn and Galxe in order for Corn to track your Galxe progress. 

This guide will not be going through the steps for each task due to the large number of available tasks and the similarities between a number of them such as retweeting a tweet. Clicking on each task will provide you with the instructions to follow in order to complete the task and earn points. 

Step 4: Refer Others

On the same Airdrop page, click Start under “My Referred Friends” to see your referral codes and the amount of Kernel yield you receive. 

Codes are not automatically generated so you will need to Create Code. It will then appear in your list for you to copy and share with others.

Conclusion

Corn is an Ethereum Layer 2 network that aims to integrate Bitcoin into the Ethereum ecosystem and allow users to earn yield. In anticipation for their upcoming CORN launch, the project is running an airdrop campaign where users can earn Kernels by depositing assets, completing tasks on Galxe, and referring others.

Do note that airdrop farming is highly speculative, and there are also potential scammers in the space. Always do your own research and check carefully before connecting your wallet to any platform.